Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red in trade on Wednesday. While BSE Sensex went below 75,600, Nifty50 was near 22,800.
Stock market recommendations: Mehul Kothari of Anand Rathi Shares and Stock Brokers recommends buying ONGC, Tata Motors, and Sundaram Finance stocks today. ONGC is suggested for an upside to ₹248, Tata Motors to ₹755, and Sundaram Finance to ₹5200, with specific stop-loss levels advised for each stock.
Tata Group invests Rs 500 crore in Breach Candy Hospital, becoming its largest financial backer and gaining board representation. N Chandrasekaran will replace Deepak Parekh as chairman from October 2025. The investment will enhance the hospital’s infrastructure and technology. This marks Tata Group’s third healthcare project in Mumbai, aligning with other conglomerates’ healthcare initiatives.
Vedanta has secured creditor approval for its demerger, surpassing the required 75% support with 83%. This restructuring will divide the company into five separate businesses, enhancing individual business value and attracting investors, particularly in newer sectors like semiconductors.
The unemployment rate among individuals aged 15 and above in urban areas remained stable at 6.4% for the Oct-Dec 2024 quarter compared to the previous quarter but decreased slightly from 6.5% in the same period last year. The labour force participation rate rose to 50.4% during this period.
Tesla Inc. is planning to enter the Indian market, hiring for 13 roles, including customer-facing and back-end jobs in Mumbai and Delhi. This move follows Elon Musk’s meeting with Prime Minister Narendra Modi. India recently reduced import duties on high-end cars, potentially benefiting Tesla. India’s EV market, although smaller than China’s, offers growth opportunities.
Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Tuesday. While BSE Sensex was below 75,900, Nifty50 was near 22,900.
Somil Mehta of Mirae Asset Sharekhan recommends buying IndusInd Bank and Cipla stocks. IndusInd Bank’s key support levels are 1013 and 1005, targeting 1150, while Cipla’s key support levels are 1438 and 1406, targeting 1545. Both stocks show positive momentum indicators.
Finance Minister Nirmala Sitharaman explained that the recent selling of Indian equities by foreign institutional investors is due to profit booking as the Indian economy provides good returns. Finance Secretary Tuhin Kanta Pandey added that during global uncertainties, FIIs tend to return to their home countries, predominantly the US.
Income Tax Slabs FY 2025-26 after Budget 2025: Finance Minister Nirmala Sitharaman announced that taxpayers will not have to pay tax for income up to Rs 12 lakh from FY 2025-26. The basic income exemption limit has been raised to Rs 4 lakh. The important question in the minds of taxpayers is: do they still […]
